Tampa Florida Industrial Real Estate Activity
At Bounat we work regularly to compile a comprehensive list of the most significant industrial commercial real estate activity, focusing heavily on construction projects and industrial real estate sales taking place each quarter in Tampa, Florida.
Tampa’s industrial market has experienced significant growth over the past few years, marked by brisk leasing activity, historic rates of net absorption, and strong rent growth. Its geographic advantages are apparent, as well. Sitting in the central part of Florida and along the waters of the Gulf of Mexico, Tampa makes for a great transportation hub of goods and materials coming in and out of the country for not only national, but international markets as well.
Below we go over several important statistics of industrial real estate in Tampa, FL.
Tampa Industrial Real Estate Stats and Updates Q1 2025
The Tampa Industrial market enters 2025 in a notably better position than most major industrial markets. However, the recent development wave and slowdown in large leases have pushed the vacancy rate to an eight-
year high, impacting the velocity at which owners can raise rents.
Tampa’s industrial vacancy rate has increased by 150 basis points from this time last year and now sits at 6.0%. The market ended 2024 with two consecutive quarters of one-million-plus SF of absorption, fueled by build-to-suit move-ins, which helped level out vacancies somewhat.
The overall rise in Tampa’s industrial vacancy rate is not a recent trend. Supply and demand have been out of balance for three consecutive years, and vacancies have risen from an all-time low of 3.6% set in 2021.
Tampa is maintaining a leasing volume of roughly 15% to 20% above pre-pandemic norms. Tampa historically was not a big-box leasing market, with the majority of leases under 50,000 SF. That changed starting in 2020 as the demand for large-scale distribution accelerated. Now, that sector of the market has cooled, and a large reason why Tampa’s leasing activity has declined when compared to the all-time highs of 2021-2023 is how few build-to-suit leases are being executed now.
You can view our commercial properties in Florida to see what real estate assets are available for lease/sale.
Tampa Industrial Projects Under Construction Stats in Q1 2025
Tampa Industrial Projects Under Construction Stats in Q1 2025
Tampa’s construction pipeline is shifting back to historic norms as the number of build-to-suits fades. As the market enters 2025, less than 750,000 SF of the market’s 3.0 million SF currently under construction is being built to suit.
- Total Properties Under Construction: 21
- Total Square Feet Under Construction: 3.021M
- Percent of Inventory Represented: 1.5%
- Preleased Property Space: 35.7%
Top 10 Tampa Industrial Projects Under Construction in Q1 2025
1) County Line Crossing – 3017 S County Line Rd
Rating: 4*
Building SF: 535,539
Stories: 1
Start: Aug 2024
Complete: May 2025
Developer: – Robinson Weeks Partners
Owner: Robinson Weeks Partners
2) Building E2 – 475 Charlie Taylor Rd
Rating: 5*
Building SF: 517,000
Stories: 1
Start: Jun 2024
Complete:February 2025
Developer: The Sudler Companies
Owner: The Sudler Companies
3) Bauducco Foods – Chancey Rd
Rating: 3*
Building SF: 400,000
Stories: 1
Start: Mar 2025
Complete: Jul 2026
Developer: Bauducco Foods, Inc
Owner: Bauducco Foods, Inc
4) Gateway Logistics Center – 2795 Grand Ave
Rating: 4*
Building SF: 225,059
Stories: 1
Start: May 2024
Complete: Jun 2025
Developer: Greystar Construction & Develop…
Owner: Greystar Real Estate Partners
5) Building B – 10860 Blvd
Rating: 4*
Building SF: 202,430
Stories: 1
Start: Nov 2024
Complete: Jul 2025
Developer: Columnar Investments
Owner: Not Listed
6) Building 1 West Site – 10407 Tanner Rd
Rating: 4*
Building SF: 202,226
Stories: 1
Start: Jan 2025
Complete: Aug 2025
Developer: Not Listed
Owner: Not Listed
7) Building 8 – 4132 Rice Rd
Rating: 3*
Building SF: 162,470
Stories: 1
Start: Nov 2024
Complete: Sep 2025
Developer: Central Florida Development
Owner: Not Listed
8) Building C – 10698 Blvd
Rating: 4*
Building SF: 155,661
Stories: 1
Start: Nov 2024
Complete: Aug 2025
Developer: Columnar Investments
Owner: Columnar Investments
9) Tampa Logistics Center – 1751 Suddath Park St
Rating: 4*
Building SF: 136,080
Stories: 1
Start: Aug 2024
Complete: May 2025
Developer: Suddath
Owner: Not Listed
10) Tampa Logistics Center – 1751 Suddath Park St
Rating: 4*
Building SF: 124,462
Stories: 1
Start: Nov 2024
Complete: Oct 2025
Developer: Columnar Investments
Owner: Columnar Investments
Tampa Industrial Real Estate Stats and Top 5 Industrial Property Sales Q1 2025
The Tampa industrial market has surpassed $150 million in quarterly sales volume for seven consecutive quarters. While current levels are well below what the market recorded in 2021 and 2022, it is far above pre-pandemic norms. The trailing 12-month sales volume is $880 million.
- Sales Comparables: 406
- Average Cap Rate: 7.6%
- Average Price/ SF: $126
- Average Vacancy at Sale: 8.2%
Tampa Industrial Real Estate Top Property Sales Past 12 Months
1) Peak Logistics Center I – 3501-3661 Fancy Farms Rd
Rating: 5*
Year Built: 2022
Building SF: 299,439
Vacancy: 0%
Price (PSF): $41,100,000 ($137)
Cap Rate: Not Listed
2) Building 400 – 7918 Harney Rd
Rating: 4*
Year Built: 2023
Building SF: 252,109
Vacancy: 0%
Price (PSF): $40,316,475 ($160)
Cap Rate: Not Listed
3) Building 100 – 7918 Harney Rd
Rating: 4*
Year Built: 2023
Building SF: 146,171
Vacancy: 0%
Price (PSF): 22,963,746 ($157)
Cap Rate: Not Listed
4) 10950 Belcher Rd S
Rating: 3*
Year Built: 1986
Building SF: 176,765
Vacancy: 0%
Price (PSF): $22,700,000 ($128)
Cap Rate: Not Listed
5) Building 300 – 7918 Harney Rd
Rating: 4*
Year Built: 2024
Building SF: 122,946
Vacancy: 0%
Price (PSF): $19,063,329 ($155)
Cap Rate: Not Listed
*Rating is 1-5, 5 being the best
Take a look at our featured commercial real estate properties in Central Florida, or contact the Bounat team to start your own property search for commercial real estate space in the region.
* Data is courtesy of CoStar Group Inc.